Gold prices in Bangladesh have reached an all-time high after the Bangladesh Jewellers Association increased prices by Tk 2,625 per bhari, effective from Thursday.

Under the revised rates, 22-carat gold is now priced at Tk 234,680 per bhari (11.664 grams), the highest ever recorded in the local market.

Previously, the highest price was Tk 232,055 per bhari on Tuesday.

The BAJUS Standing Committee on Pricing approved the increase at a meeting held on Wednesday.

 The decision was later announced in a notice signed by committee chairman Dewan Aminul Islam Shaheen.

BAJUS said the price hike was prompted by a rise in the local price of pure (tejabi) gold.

Considering the overall market situation, the association revised prices accordingly.

Gold prices have surged sharply throughout the week.

On January 13, prices jumped by Tk 4,199 per bhori, following a Tk 1,050 increases on January 11.

In total, 22-carat gold has risen by Tk 7,874 across three adjustments.

Under the latest revision, the price of 21-carat gold increased by Tk 2,508 to Tk 224,407 per bhori, 18-carat gold rose by Tk 2,099 to Tk 191,989, while traditional gold went up by Tk 350 to Tk 157,231.

In addition to the revised prices, buyers will have to pay a government-mandated 5 per cent VAT and a minimum 6 per cent making charge set by BAJUS.

However, making charges may vary depending on the design and quality of the jewellery.

With this latest adjustment, gold prices have been revised seven times so far this year, raised on five occasions and reduced twice.

Meanwhile, silver prices remained unchanged.

BAJUS has set the price of 22-carat silver at Tk 5,949 per bhori, 21-carat at Tk 5,715, 18-carat at Tk 4,899, and traditional silver at Tk 3,674.